The Business Day In Global Warming (MCEL, ASTI, CSUN, CPST, CMGI, USEY)

Senator Joe Lieberman and Senator John Warner introduce the Climate Security Act to aim for 50% carbon emission reduction in the U.S…… by 2050.

Lazard Capital gets even more bullish on key solar names, after already showing some strong expectations earlier this week.  You still have to use some caution though, as per the Cowen & Co. research note on China Sunergy (NASDAQ:CSUN) having its stock being overextended.

Google blew past its earnings and analysts are looking for much higher stock prices, so it has more and more money to keep it push going to be ‘carbon neutral’ by the end of the year.

Oil hit $90/barrel this week, T. Boone Pickens is now calling for $100/barrel.  Believe it or not, he’s not alone:

• PetroChina (NYSE:PTR) has surpassed GE to be the second largest company by market cap.
• Recently Goldman Sachs issued a higher “Super-Spike” target noting oil could hit $135/barrel and $4.50/gallon.
• GE is becoming a stealthy oil company.
• Ken Heebner is still quite bullish on black gold as well.

Millennium Cell Inc. (NASDAQ:MCEL) and Horizon Fuel Cell Technologies Pte. Ltd have signed a Letter of Intent to jointly develop and sell products on a global basis. The companies have also entered into a definitive agreement which will result in the exchange of their respective equity valued at $5 million.

Ascent Solar Technologies, Inc. (NASDAQ:ASTI) has filed with the Securities and Exchange Commission post-effective amendments to two existing Form SB-2 registration statements that cover, among other things, the shares of common stock issuable upon exercise of outstanding Class B warrants. Today’s filings do not register additional securities for sale by Ascent Solar, but are intended solely to convert the existing registrations on Form SB-2 into less burdensome and less costly registrations on Form S-3.

Capstone Turbine Corp. (NASDAQ:CPST) has released a 65 kilowatt microturbine that meets extremely low global emission requirements including California’s stringent distributed generation emissions standard.

CMGI Inc.’s (NASDAQ: CMGI) @Ventures announced that one of the companies in its venture capital portfolio, The Generations Network, Inc. will be acquired by Spectrum Equity Investors. Under the terms of the agreement, Spectrum will lead an investment of $300 million to purchase a majority interest in the company.

U.S. Energy Systems, Inc. (NASDAQ: USEY)…. The NASDAQ Stock Market will delist the Company’s shares of common stock and suspend trading in the shares effective with the opening of trading on Thursday, October 18, 2007. The Company has been advised that its shares are eligible for quotation on the Pink Sheets Electronic Quotation Service.
Business Week article touts the “green business notion of profitability is going up in smoke.”
The early-week edition of “The Business Day In Global Warming”

Jon C. Ogg
October 19, 2007

Jon Ogg produces the subscriber-based Special Situation Investing Newsletter; he does not own securities in the companies he covers.  Trial members signing up this weekend will still be entitles to view the first part of our “Small Cap Internet Watch List” of likely takeover targets in the sector.

As a reminder, whether you prefer the term “Global Warming” or “ClimateChange” is not the issue as far as 24/7 Wall St. covers it. Greenbusiness has become big business, and this affects many publiccompanies today.